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the world, i'm fareed zakaria. on today's show the gun debate and the state of the two biggest economies in the world. first up, on tuesday in the state of the union, president obama challenged congress to vote on proposals to get weapons of war off our streets. but will it happen? can it happen? we'll talk to a world leader who made it happen in his nation. >>> then, larry summers on how to create jobs in america. the former treasury secretary on how the president can achieve the goals he laid out for the economy. >>> then, many worry that the world's second largest economy is headed for a crash. a rare inside look at the inner workings of the chinese economy. what's really happening there? >>> also, what in the world will get north korea to end its nuclear ambitions? i'll give you my plan. but, first, here's my take. president obama's state of the union address presented an expanded vision of smart government to create jobs and revive the economy. it had many important ideas in it. yet, he lowered his sights on the single policy that would both jump start the economy in the short term
what we've recovered from. the minimum wage economy, is that what we're recovering to? good morning, i'm christine romans. 28 months in a row, 6.1 million jobs created in the past three years, but the jobs we're adding are not the same quality as the jobs we lost. survey from rutgers university finds 60% of people who found work in six months settled for lower pay. these aren't jobs you can send a kid to college on or buy a house. president obama detailed his blueprint for boosting the middle class. the only new proposal was an old one, raising the minimum wage. >> let's declare that in the wealthiest nation on earth, no one who works full time should have to live in poverty and raise the federal minimum wage to $9 an hour. >> free action was swift and fierce. conservatives say, hey, that's a jobs killer. progressives say it lifts families out of poverty. the problem, you can't find studies to support just about any position. a study found the new minimum wage actually means fewer jobs for low-skilled workers but a study by alan krueger concludes minl mihm wage hikes dewpoint reduce em
elected official once again seem prepared to take the american economy to the brink of destruction. this time over a march 1st deadline for the across-the-board government cuts known as the sequester. >> this is not a game. this is reality. >> i don't like the sequester. it's taking a meat axe to our government. >> these steps would seriously damage the fragile american economy. >> still fragile enough that four years after the recession the u.s. economy actually shrank in the last three months of 2012. the storm clouds were ready to blow away and washington basically called them back. >> i think we're all aware that we have some urgent business to do. >> if not for indecisive, uncompromising, and polarizing politicians, america's economy could take off again. >> we are producing more energy and america can become an energy exporter. >> we're in the midst of an energy boom and it's lowering the price of electricity and bringing manufacturing back to america. a housing boom fueled by the lowest interest rates in history. and 35 months of private sector job creation. america's future
a renaissance may be at hand for the u.s. economy? find out right now on "your money." >>> despite a recession in europe, major mergers in the united states show evidence that business is picking up. america could be on the road to prosperity if not for our politicians standing on the way. i'm ali velshi. this is "your money." there's ap economic storm hovering just off our shores. the headwinds are gathering strength as our elected official once again seem prepared to take the american economy to the brink of destruction. this time over a march 1st deadline for the across-the-board government cuts known as the sequester. >> this is not a game. this is reality. >> i don't like the sequester. it's taking a meat axe to our government. >> these steps would seriously damage the fragile american economy. >> still fragile enough that four years after the recession the u.s. economy actually shrank in the last three months of 2012. the storm clouds were ready to blow away and washington basically called them back. >> i think we're all aware that we have some urgent business to do. >> if not for indeci
around, stock market near all-time highs, housing market recovering and the economy adding jobs every month. now relief may have given way to a little bit of worry. here's why. it's starting to feel like a recession again, especially if you're living paycheck to paycheck, gas prices up nearly 50 cents in the past month. the fastest run-up, you're bringing homeless money, thanks to the expiration of the tax cut. you're getting about 60 bucks less every month. rents are rising, up 12 quarters in a row now. unemployment is still too high. if you were counting on an early tax refupd you have had to wait. because of the fiscal cliff fiasco, the irs did not start issuing refund checks until january 30th. a stretched consumer, a consumer who has no choice but to cut back. big companies you work for say this is already happening. this week, walmart, the proxy for the american consumer says february sales were slow. why? it blamed gas prices, the end of the payroll tax holiday and those delayed tax refunds. that's what we know. washington to the rescue? of course not. on friday comes austerity
zuckerberg. i'm fredricka whitfield. "your money" starts right now. >>> an economy poised to soar is now under attack from its own government. i'm ali velshi. this is "your money." your political leaders are punishing themselves for gross inaction. and they're doing it the only way they know how, by targeting you. four government spending cuts take effect march 1st, what washington has been calling the sequester. it's a stupid name for a stupid thing. >> these cuts are not smart. they are not fair. they will hurt our economy. they will add hundreds of thousands of americans to the unemployment rolls. this is not an abstraction. people will lose their jobs. >> you've heard the big numbers. $1.2 trillion in cults over ten years. $85 billion this year. that's 13% cuts to defense, 9% to everything else. >> we're weeks away from the president's sequester, and the president laid out no plan to eliminate the sequester and the harmful cuts that will come as a result. >> the forced budget cuts were created during the 2011 debt ceiling debacle. they were passed by congress and signed by the
shrinks the deficit dpaster than a growing economy that creates good, middle class jobs. that should be our driving focus, making america a magnet for good jobs, ewinning how people with the skills required to fill those jobs. making sure their hard work leads to a decent living. those are the things we should be pushing ourselves to think about and work on every single day. that's what american people expect. that's what i'm going to work on every single day to help deliver. so i need everybody who's watches today to understand, we've got a few days, congress can do the right thing, we can avert just one more washington manufactured problem that slows our recovery and bring down our deficits in a balanced with, responsible way. that's my goal, that's what would do right by these first respond irs, that's what would do right by america's middle class. that's what i'm going to be working on and fighting for not just over the next few weeks, but over the next few years. thanks very much, everybody. thank you guys for your service. >> the president speak once again, restates his positio
out of business. deb? >> saving the environment and trying to rejolt the economy. all right. chris lawrence, thanks for us there in washington, d.c. appreciate it. >>> a mother flying to atlanta tries to soothe her crying child. that's when police say a fellow passenger actually slapped the boy and yelled out a racial slur. parents describe the traumatic incident just ahead. >>> mixed martial arts, a sport that's exploding in popularity in the u.s. going to tell you why. >>> also, remarkable guide dogs, trained by a woman whose hollywood pedestrian grill is very well known. we will talk live to entertainer lauren aluft, daughter of judy garland. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlar
are not smart. they are not fair. they will hurt our economy. they will add hundreds of thousands of americans to the unemployment roles. this is not an abstraction. people will lose their jobs. >> so there are two solutions. number one, lawmakers find another way to punt, ie delay the cuts for another month. or two come up with a major plan to slash the debt in this country. number two is not going to happen. the punt and pay, i kind of like it. that is not going to happen. number one haze decent chance but number one is a fail too. after all, the feared forced cuts are 2.5% of projected total federal spending. we have an economics professor at nyu and former director of the congressional budget office. at this point, are the cuts inevitable? why is the president still talking about it? >> well, we're ten days away and it seems like the republicans really don't want to do anything to fend off this crisis. you said sequester is an odd word. in a lot of languages, it means kidnap. it's sort of a kidnap situation because the economy is kidnapped, fearing that we might lose maybe .6 of a percenta
about the economy, when you talk about the economy that the keystone pipeline is not dangerous, that it uses some of the latest technology to prevent leaks, it will bring jobs to the nation's economy. another big agenda on the table here is the emission standards. they've already been proposed for plants that are coming online, new plants, but the big issue among a lot of people here is will those standards, those harsher standards be extended to existing plants? so that's a taste of what you're seeing here, protect our health, not big polluters, a lot of people here trying to take a message to president obama. deb? >> all right, chris lawrence there right in the thick of it. obviously a topic that generates a lot of passion on both sides. thanks so much. >>> in los angeles a different kind of rally. dozens of protesters gathering outsite lapd headquarters. carrying plaquers supporting renegade ex-cop christopher dorners. they don't support his rampage but the accusations of corruption, racism and brutality in the lapd need to be adressed so this doesn't happen again. >> i any
budget in a $16 trillion economy. that's a really, really tiny slice of the thanksgiving pie, people. there is no need to cut from the vulnerable when it should be easy to cut the amount of money we're talking about from other places. so why is all we hear, the republicans won't do this, the democrats won't do that? danielle altman is an economics professor at ncu. daniel, one thing to acknowledge here, finding $85 billion should be no problem. $85 billion is a really small chunk of the change we actually need to find. so even if you cut from the right places, if you cut the right amount, it would hurt people, and i think we have to be honest about that, but the cuts we're talking about right now impact a lot of people, but brutal and dangerous for the economy? >> well, the thing is this. that it's $85 billion until the end of this year, but then we have these cuts maintained, and enlarged in some cases, going forward over the next seven years. so we've got almost $1 trillion in cuts. so if the sequester goes forward -- >> but over that ten-year period, you have to multiply that time
are employed, cut out 4% of the federal budget, that's going to have a big effect on the economy. >> the transportation secretary ray lahood spoke at the white house briefing today. all of you listen to this. >> there has to be some impact in order to save $1 billion. $1 billion is a lot of money. >> let's be clear, it's less than 2% of your budget -- >> it's a lot of money, jonathan. where i come from, which is central illinois, $1 billion is a lot of money. >> all right, john, jump in here. this is the tricky part, i think. $1 billion is a lot of money and i think daniel had a good point there. on the other hand, there are all sorts of businesses, all sorts of families, all sorts of states that have had to suck up bigger cuts and they haven't screamed that everything is falling apart at the hinges. is there political opportunism here? >> there's definitely political theater but this whole plan was supposed to be so stupid that it would compel the two parties to come together. the grant bargain but the parties can't seem to come together. what you're hearing is the washington mo
. >> is same sex marriage good for the economy? financial experts suzy orman says it is. she will explain. mission was to get all six james bond actors reunited at the oscars but that mission reportedly a dud. instead can you get your bond fix here? yes. we'll take a look at 007. cymbalta can help. cymbalta is a pain reliever fda-approved to manage chronic musculoskeletal pain. one non-narcotic pill a day, every day, can help reduce this pain. tell your doctor right away if your mood worsens, you have unusual changes in mood or behavior or thoughts of suicide. anti-depressants can increase these in children, teens, and young adults. cymbalta is not for children under 18. people taking maois, linezolid or thioridazine or with uncontrolled glaucoma should not take cymbalta. taking it with nsaid pain relievers, aspirin, or blood thinners may increase bleeding risk. severe liver problems, some fatal, were reported. signs include abdominal pain and yellowing skin or eyes. tell your doctor about all your medicines, including those for migraine and while on cymbalta, call right away if you have
of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. something this delicious could only come from nature. new nectresse. the 100% natural no-calorie sweetener made from the goodness of fruit. new nectresse. sweetness naturally. >>> the former lapd officer now has thousands of his brothers in blue chasing him. just who was christopher dorner? what lit the fuse to cause this explosive rampage. >> reporter: christopher dorner, target of the largest manhunt in lapd history. a vengeful ex-cop, highly trained marksman, armed and dangerous. turning against the very agency that defined him. >> he loved being a cop. he wanted to be a cop all his life. >> the chris corner that was terrorizing california is far from the sunny upbringing of his southern california childhood. he grew up in los angeles's sprawling suburbs with his mother and sister. it's here
, national security or the economy. -- or our economy. but once again the president offered no credible plan that can pass congress -- only more calls for higher taxes. mitch mcconnell had this to say in a statement after the president's speech. quote, today's event at the white house proves once again that more than three months after the november election, president obama still prefers campaign events to commonsense, bipartisan action. if anyone is waiting for any last-minute deals, they better not hold their breath waiting for them to come from mitch mcconnell. here's what he said to reporters a week ago. >> it's pretty clear to me that the sequester is going to go into effect. read my lips. i'm not interested in 11th hour negotiation. >> so congressional republicans are definitely striking back at the president, saying he can prevent damage to essential services by cutting from other areas of government. earlier i spoke with the republican senator rand paul of kentucky. senator, the president spoke today about those forced budget cuts. he had some pretty tough words for republicans. let
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and author of "beyond outrage," what's gone wrong with our economy and how to fix it and ari fleischer, former white house press secretary under george w. bush. all right, let's get some action here. robert, the white house responded to john boehner's challenge of saying, where are the cuts, with a blog post from dan pfeiffer who wrote, "the fact is, the president has a detailed balanced plan with spending cuts, he's willing to make tough choices. now it's time for the speaker to do the same." then he had a link to an 80-page proposal from september, including war savings, it includes tax reform, which of course they want. it doesn't fully lay it out by any stretch of the imagination. so jay carney was asked what specifically will the white house cut and here's what jay carney said. >> it's in the proposals he submitted to the speaker of the house that the speaker walked away from -- >> where does the president prevent sequestration from happening? shouldn't the president take the lead and present that -- >> well, first of all, congress has to act. >> all right. it's frustrating, no ma
. what it's costing the economy to have so many underemployed college graduates. that's next. >>> president obama has been talking to voters about his ideas for revitalizing the job market, especially for the middle class. that's a message he pushed before but one that's growing more urgent for some people who had hoped the lingering effects of the recession would never reach them. tom foreman has this week's american journey. >>> everyday on the busy streets of new york, kellock irvin is hunting, and he received his college degree last year, he moved here from the west coast and thought finding a job in marketing was the next logical step. >> not necessarily that it would be an easy task but it wouldn't be something that almost eight months since graduating i'm still struggling with. >> he's not alone. >> our economy is adding jobs but too many people still can't find full-time employment. >> when president obama took office, 134 million americans were working in nonfarm jobs. today, after massive losses and a slow recovery, we're only 1.2 million jobs better off. and many p
into the health of the economy. >> and brand new this morning, a really shocking report that the chinese military may be behind hacking targeted at the u.s. kristina is here with news on that. this is kind of a huge business. >> it is. it is a business story. you talked about intellectual property in the united states. you're talking about companies and what they build and what they make and sell around the world. very concerned about what one group is calling an extensive cyber espionage campaign by the chinese military. not only a national security threat. it is also a huge risk to american business. economists have no idea how much it actually costs the u.s. economy. but this he know it's billions. we've seen estimates from a few billion to as much as $100 billion a year of lost american business because of chinese hacking. and critics of chinese hack ig say what china lacks in innovation it makes up in the intellectual property theft. the cyber security firm mandian says the sure scale and duration of the sustained attacks against a wide set of industries from a singularly identified group in
of congress, there's no reason to destroy the economy when we're on the uptick. >> i want to fete g et in the facebook comments. what would you say to congress to avoid the forced budget cuts? try try doing something constructive. and tough times for for tough cuts. when you're broke, you don't do shopping. keep the conversation going, facebook.com/carolcnn, or tweet me @carolcnn. president obama is set to speak just moments from now. i want to thank our guests. thanks so much for playing today. we'll be right back. chances are, you're not made of money, so don't overpay for motorcycle insurance. geico, see how much you could save. how do you keep an older car running like new? you ask a ford customer. when they tell you that you need your oil changed you got to bring it in. if your tires need to be rotated, you have to get that done as well. jackie, tell me why somebody should bring they're car here to the ford dealership for service instead of any one of those other places out there. they are going to take care of my car because this is where it came from. price is right no problem,
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are not smart, they are not fair, they will hurt our economy, they will add hundreds of thousands of americans to the unemployment roll. people will lose their jobs. the unemployment rate might tick up again. >> cnn chief national correspondent john king is looking at the impact that we can expect from these cuts. >> webster defines sequester as to set apart or segregate. in washington, it's a fancy word for spending cuts. an example of political leaders in both parties are failing to do their most recent job. >> they have doubled down on the cuts i've outlined. >> here's what will happen. $85 billion in federal budget cuts kick in. that's 9% of nondefense spending and 13% of the pentagon budget over the next seven months. what's protected? medicare and social security. so are medicaid and food stamps, military personnel and the v.a. are examined. most federal agencies would make cuts and the white house warns, among other things, furloughs of the fbi, border patrol, and food safety inspections. the president says vital government services would suffer and the economy would weaken. republicans
that the iranians will want to be seen as making concessions to the west before then. but iran's economy is really hurting because of these biting sanctions on their oil sector and central bank. take a look at this. in the last year alone, the iranian currency has fallen 80%. so the u.s. and its partners feel maybe the rulers are getting desperate and could seriously negotiate after the elections. in the short term it might be good to get the talks going again and see what iran really wants. >> elise, thanks. >>> coming up, one of the most anticipated retail reports of the year from walmart just into cnn. we'll tell you the numbers and also what it means for the economy when we come back. dermatologist recommended [ ] aveeno has an oat formula, now proven to build a moisture reserve, so skin can replenish itself. that's healthy skin for life. only from aveeno. so skin can replenish itself. how do you keep an older car running like new? you ask a ford customer. when they tell you that you need your oil changed you got to bring it in. if your tires need to be rotated, you have to get that done as
of investment choices to help you fine-tune your personal economy. call today and we'll make it easy to move that old 401(k) to a fidelity no-fee ira. with the bing it on challenge to show google users what they've been missing on bing. let's bing it on. [fight bell: ding, ding] how many here are google users? what if i was to tell you that you would actually like bing way more than google when it came to the results? prove it. let's look up some taco places. i like the left side. yeah? okay, do we need to find out what the waves are like down at the beach? what side do you like better? i like the results on the right. i'm gonna go with the one on the left. oh! bing won! people prefer bing over google for the web's top searches. don't believe it? go to bingiton.com and see what you're missing. >>> welcome back, everybody. 7:30 on the east coast. a man accused of slapping a crying toddler on a delta flight is now out of a job. joe hundley is no longer being employed. the parents of the 19-month-old boy are still in shock. renee marsh following the story from washington, d.c. >> fired, that's
a fortune to get a degree. now they are driving taxis and mopping floors. what it is costing the economy to have so many underemployed college graduates. that's next. ha ha ha! no no no! not today! ha ha ha! ha ha ha! jimmy how happy are folks who save hundreds of dollars switching to geico? happier than dikembe mutumbo blocking a shot. get happy. get geico. fifteen minutes could save you fifteen percent or more. we all work remotely so this is a big deal, our first full team gathering! i wanted to call on a few people. ashley, ashley marshall... here. since we're often all on the move, ashley suggested we use fedex office to hold packages for us. great job. [ applause ] thank you. and on a protocol note, i'd like to talk to tim hill about his tendency to use all caps in emails. [ shouting ] oh i'm sorry guys. ah sometimes the caps lock gets stuck on my keyboard. hey do you wanna get a drink later? [ male announcer ] hold packages at any fedex office location. [ male announcer ] make your escape... twice as rewarding. earn double points or double miles on all your hotel stays through mar
understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses google's backyard for the wbing it on challenge.. [fight bell: ding, ding] what's your preferred search engine? search engine, uhh, probably google. if we do a side by side blind test comparison, and you end up choosing google, you get an xbox. i'll bet you the xbox, you bet me your son. well let's look up what you need. okay, i would do the left. yeah? what?! i am a daddy! bing wins it! bing won. bing did win. people prefer bing over google for the web's top searches. don't believe it? go to bingiton.com and see what you're missing. i have obligations. cute tobligations, but obligations.g. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the
the chance to get ahead. our economy is stronger when we harness the talents and ingenuity of striving, hopeful immigrants. and right now, leaders from the business labor law enforcement, faith communities, they all agree that the time has come to pass comprehensive immigration reform. now is the time to do it. now is the time to get it done. >> in his state-of-the-union address the president got almost the entire chamber roaring, the bipartisan response. our kate baldwin traveled to miami to get the back story on the rising gop star. >> good evening, i'm marco rubio. >> reporter: the 41-year-old senator already labelled the republican savior was blunt in his response to the president's state-of-the-union address. >> his solution to virtually every problem we face is for washington to tax more, borrow more and spend more. >> reporter: his big moment, however, overshadowed by an un-scripted drink of water. rubio took the water in stride. >> god has a funny way of reminding us we're human. >> reporter: that charm is one way to help him rise in the republican party. to better understand h
, calling for new programs to stimulate the economy. >> we need to launch manufacturing hubs across the country that will transform hard hit regions into global centers of high tech jobs and manufacturers. we need to make the tax code more competitive. and reward companies that create jobs here at home. >> in her party's weekly address, alabama congress woman blamed the president for the billions in spending cuts that could take effect on march 1st. >> as the clock is ticking towards his devastating sequester the president has failed to put forward a plan to prevent it, why? because president obama and senate democrats see his sequester as an opportunity to push through another tax increase. >> roby said that the president should consider the alternative budget cuts already passed. marco rubio is headed to the middle east, he left today on a week will have long trip that will take him to israel and jordan. the trip comes days after rubio delivered the republican response to president obama's state of the union address. when drones are used to save the lives of american soldiers we a
to increase not just here in the u.s., but globally because of a better outlook for the global economy. the price of oil has been modestly higher since the beginning of the year. you don't need me to tell you that. the good news is it has been relatively stable since the summer, carol. you haven't seen the real crazy spikes that we've seen over the years. carol? >> alison kosik reporting live from new york this morning. move over, guys. danica patrick in the top spot. patrick won the pole position for the daytona 500, becoming the first woman to win a pole at any nascar top division race. she later spoke with cnn's don lemon, who asked her, if she could comprehend that she made history. >> i that i that understanding the scope of what that means and what that will end up meaning, or if any, is something that happens down the road. in the moment, it's about thinking about what i need to do for next sunday and trying to make some more history. i love that to go beyond racing in general, i mean, just to kind of break gender barriers, i feel that one of the coolest things is to be able to
. and not only may end up being direct job loss but because the economy is softer, it also planes we're not going to be driving down unemployment as quickly as we should. so with respect to world leaders, i think that unlike issues like the debt ceiling, the sequester going into effect will not threaten the world financial system. it's not like the equivalent of the u.s. defaulting on its obligations. what it does mean, though, is that if the u.s. is growing slower, then other countries grow slower because we continue to be a central engine in world economic programs, so i don't think anybody would like to see this outcome. and particularly when we're poised to grow rapidly as housing comes back and we're starting to see real signs of the recovery taking root, it's the wrong prescription. but ultimately i don't need to persuade world leaders. they know that. i need to persuade members of congress and that can be harder sometimes. >> even if you think a deal -- even if you think the cuts are inevitable, do you see any realistic sign of being able to reach a deal over the next week? >> hope springs
that doesn't endanger our economy and jobs. >> reporter: now, just to hammer that message home, the white house sent out ray lahood to talk to reporters at the white house briefing. he talked about what he called a cal c calamity if these cuts go through. 47,000 faa employees are facing furloughs. that would result in delays at the airports and air traffic control would not have the staff that they normally would have and they might be closed altogether at the small air traffic control offices. here's what the transportation secretary had to say. >> flights to major cities, like new york, chicago, san francisco, and others could experience delays up to 90 minutes during peak hours because we have fewer controllers on staff. delays in these major airports will ripple across the country. >> reporter: now, earlier today, house speaker john boehner sent out a tweet complaining that the president is spending more time trying to blame republicans that he's actually engaging in negotiations and i can tell you from talking to both the speaker's office and the office of senate minority leader mitc
never been stronger. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. >>> one of america's biggest cities is facing a financial crisis right now. it may go bankrupt. detroit used to be america's fifth largest city. that was back in 1960. it's now slipped to 18th having lost half of its population. this afternoon, michigan's governor told reporter he's putting off a decision on whether to put a special manager in charge of the city's finances and in a break from the kind of politics we often see here in washington, the governor went out of his way to avoid the blame game. >> we shouldn't be spending any time on the blame question. this isn't about the last year. this isn't about what's going on since mayor bing. this is an issue that's struck urly been there for decades. and if you look at what it behind all this, it's this, the decline in population. >> a huge decline in population. let's discuss what is going on. detroit's mayor is joining us. mayor bing, thanks for coming in. >> thank you, wolf. my pleasure.
these elections. but iran's economy is really hurting because of these biting sanctions the u.s. and european union slapped on them. this ban on oil and in the last year alone, iranian currency has fallen 80%. so the u.s. and its partners feel it's good to get the talks going, see what iran wants. the hope is maybe they'll feel the crunch and deal seriously after the elections because people are really hurting. >> all right, thank you so much. >>> 18 minutes past the hour. we have breaking news just in to cnn. a car bomb targeting the headquarters of syria's ruling party exploding in central da mat cuss. syrian state television reporting an undisclosed number of casualties. the vehicle detonated at a checkpoint manned by government soldiers in front of the barge socialist's main office. this is according to a human rights group. we'll have updates on this breaking news story throughout the morning for you. >>> all right, also happening now, day three of oscar pistorius' bail hearing. we're waiting to see if pistorius will be released. court resumed after they located the lead investigator. th
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. as your life and career change, fidelity is there for your personal economy, helping you readjust your retirement plan along the way. rethink how you're invested. and refocus as your career moves forward. wherever you are today, a fidelity ira has a wide range of investment choices to help you fine-tune your personal economy. call today and we'll make it easy to move that old 401(k) to a fidelity no-fee ira. >>> pain at the pump. we'll tell you how high the prices are soaring, up for 32 straight days, next on "360." the good they did inspires us, prepares us and guides us. at new york life, everything we do is to help you keep good going. [ slap! ] [ male announcer ] your favorite foods fighting you? fight back fast with tums. calcium-rich tums starts working so fast you'll forget you had heartburn. ♪ tum tum tum tum tums >>> if you have been following "ac 360's" reporting on all of the teenagers being murdered in chicago, you have already heard the words enough is enough. you have heard it after each kid is gunned down, but we heard it the loudest after a 15-year-old girl, hadiya pe
. >> please, i would like to finish what i'm saying here. 750,000 jobs will be lost. the economy will shrink by 6%, and what we've produced is very simple. it's closing loopholes. the only people who support them are the people who benefit them from them, oil and gas loopholes, the idea that businesses shouldn't get breaks by sending jobs overseas, the idea that someone who makes over $1 million should pay a higher rate than others, and whether it's right on the eve of sequestration or if god forbid it has to take effect for a few days, the devastating effects will be so strong. the president will be out there on his bully pulpit that just like on the fiscal cliff republicans will come on board. they have no choice. their arguments are untenable and don't meet the favor of hardly anyone other than themselves and the few whose special interests they are protecting. >> let me move you on to immigration simply because we now see the white house sort of draft immigration bill, at least the skeleton of it, has been leaked out there. we know that democrats had been saying to the white house we don
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